Priority sector lending in Kerala exceeds target

Commercial banks in Kerala have surpassed the priority sector lending target for the fiscal 2006-07 to post a disbursement figure of Rs 27,724 crore, as on March 31, this year.

This, according to the State Level Bankers Committee (SLBC), is 114.14 per cent of the disbursement target of Rs 24,290 crore for the year.

Of the total amount disbursed, the agriculture sector received Rs 11,906 crore, while the small scale industries got Rs 3,208 crore and other priority sectors received Rs 12,610 crore, an SLBC statement said.

The total deposits with the commercial banking system in the state as on March 31, 2007, stood at Rs 91,697 crore. Of these, the NRI accounts accounted for Rs 33,304 crore.

While total advances stood at Rs 64,273 crore, the credit-deposit ratio touched an all-time high of 70.09 per cent at the end of 2006-07.

The banks also sanctioned 28,961 Prime Minister's Rozgar Yojna (PMRY) loans during the year as against a target of 28,000, it said.